Bankers now fear a new regulatory framework is coming they say would prevent the kind of economic growth American had had before the current bust. I’m not really well versed on this subject, but it doesn’t seem right to me. If the growth America had experienced was so fantastic, why didn’t ordinary Americans’ lives get better? And why did it all disappear so quickly, if it was based on something real and not just making a few people richer on paper?
Then, there’s Elizabeth Warren, talking good sense as usual.
She uses history, and not economic models, to tell us that for 50 years after the Great Depression, we changed laws and avoided the boom and bust cycles that had plauged America from its inception. And then, once the framework began to unravel, we started again, culminating in the most recent bust. That’s why I don’t believe the bankers so much. I’ve got really smart people like her telling me something that makes more sense. Save me, Elizabeth Warren. Save me from the zombie banks.
